Speaking at a press briefing in Hanoi on April 3, Yen said that these decisions are of strategic importance, providing direction for national development in the coming years while institutionalizing the guidelines and goals set out at the 14th National Party Congress and conclusions of the second meeting of the Party Central Committee.
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Pham Thi Hong Yen, a full-time member of the N.A.’s Committee for Economic and Financial Affairs, speaks at the press briefing on April 3. (Photo: daibieunhandan.vn) |
These will be turned into clear targets, indicators, and solutions to drive rapid and sustainable development, aiming for an average GDP growth of 10% or higher, while keeping the economy stable, controlling inflation, maintaining key economic balances, and raising people’s living standards, she explained.
Yen noted that one of the key issues for discussion at the session will be measures to successfully realize the goal of becoming a developing country with modern industry and upper-middle income by 2030, and ranking among the world’s top 30 economies by GDP size. This includes building modern development institutions, developing a modern infrastructure system, enhancing scientific and technological capacity, promoting innovation, improving the quality of human resources, and advancing cultural and human development.
The N.A. will consider measures to enhance environmental protection, climate change adaptation, and ensuring a democratic, equitable, disciplined and safe society, alongside strengthened national defense and security, and a elevated international standing for Vietnam.
Amid rapidly evolving and unpredictable global economic and geopolitical conditions, Yen said the N.A. will continue to work closely with the Government to monitor developments, develop growth scenarios, and propose both short- and long-term solutions tied to feasible resources, ensuring macroeconomic stability and social security while staying on track with growth targets.
The 16th N.A. is also expected to consider and decide on key measures for fiscal and monetary policy management to achieve double-digit growth.
Regarding the State budget, efforts will continue to improve management efficiency and uphold the central budget’s leading role, while maintaining a reasonable budget deficit. Tax policy reforms will be pursued to broaden the revenue base and create fiscal space for infrastructure investment and development.
In terms of monetary policy, management will be proactive, flexible, timely and effective, ensuring system liquidity and close coordination with fiscal policy to control inflation and support growth.
Yen added that lawmakers are expected to propose solutions to mobilize all available resources, particularly public investment, as a catalyst to unlock other social investment sources for national key projects and inter-regional development initiatives. Priority will also be given to developing new economic models, such as the green and circular economy, alongside accelerating digital transformation across the economy.
The first session of the 16th N.A. is scheduled to open on April 6 and last about 11 working days in two phases - April 6–12 and April 20–23 - with April 24–25 reserved if necessary.
Source: VNA